The US dollar continues to move higher with the DXY boosted by weakness in the Euro, British Pound, and Japanese Yen. This year’s series of higher lows and higher highs remains in place and the index is closing in the recent double high around 106.60. To break above this multi-month high, the US dollar is going to have to make the running and not rely on weakness in other G7 currencies.
British Pound (GBP) Latest – Sterling Continues to Slide After Dovish BoE Turn
Japanese CPI Data Mixed as Yen Continues Steady Decline
US Dollar Index Daily Chart
Gold remains in a multi-week sideways range, pushing back towards resistance despite a stronger US dollar. The precious metal is back above all three simple moving averages and looks set to test $2,400/oz. next week.
Gold Respecting a Recent Trading Range but Support Needs to Hold Firm
Gold Daily Price Chart
